Serbian consumer financing company, Leanpay, has successfully completed its Series B funding round, securing €10 million (approximately $10.8 million). This significant investment aims to strengthen Leanpay’s position in the Slovenian market while facilitating expansion into Romania and Hungary, positioning the company as a leader in consumer financing across Central and Eastern Europe.
Funding Details
The funding round was led by the Bulgarian private investment company BlackPeak Capital and the Romanian fund Catalist Romania Fund II. Additional support came from Belgrade’s South Central Ventures and the Hungarian VC Fund – Lead Ventures, both of which had previously backed Leanpay. The company shared the news on LinkedIn, highlighting the crucial role of this investment in its growth strategy.
CEO’s Vision
Miša Zivic, founder and CEO of Leanpay, expressed satisfaction with the new investments:
“This funding confirms our commitment to improving the user experience. Its implementation will strengthen our position in Slovenia — which is our primary market — but also enable us to expand our business in Romania and Hungary and become leaders of consumer financing in Central and Eastern Europe. Also, we are excited about the opportunity to engage top talents that will trigger new innovations.”
Leanpay’s Growth and Impact
Founded in 2017, Leanpay offers a “buy now-pay later” (BNPL) lending platform at the point of sale. The company boasts over 120,000 users across Slovenia, Romania, and Hungary and has approved more than €200 million in consumer loans. Leanpay’s revenues rose by 250% last year, reflecting a significant growth following their Series A funding.
Industry Perspective
Niklas Pichler, an executive partner at BlackPeak, emphasized the importance of flexible payment methods in the evolving e-commerce landscape:
“The growing interest in flexible payment methods such as BNPL significantly affects the e-commerce landscape. We are looking forward to being able to support Leanpay, pioneering in advanced BNPL solutions, as they continue to encourage innovation and responsible lending practices in the region.”
Future Funding and Expansion
In conjunction with this investment, BlackPeak Capital announced plans to further fund up to €30 million for the international expansion of Eastern European companies. This strategic initiative underscores BlackPeak’s commitment to fostering growth and innovation within the region.
Leanpay’s latest funding round marks a pivotal moment in its journey to revolutionize consumer financing, with a clear focus on expanding its reach and enhancing user experiences across Central and Eastern Europe.
